Rescued Europeans found in Red Sea (8)
I believe the answer is:
redeemed
'rescued' is the definition.
(I've seen this before)
'europeans found in red sea' is the wordplay.
'europeans' becomes 'ee' (an abbreviation for European written twice).
'found in' means one lot of letters goes inside another.
'sea' becomes 'med' (abbreviation of Mediterranean).
'red'+'med'='redmed'
'ee' going inside 'redmed' is 'REDEEMED'.
(Other definitions for redeemed that I've seen before include "free from error" , "Saved as from hell or pawnshop" , "Atoned for" , "Saved from sins or bought back from the pawnshop" , "Made up for; bought back" .)