The most common and most likely answer to this crossword clue is the 7 letter word ANOINTS
I've seen this crossword clue in Financial Times
A
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O
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More clues leading to the result ANOINTS
Buddy explains!

The straight part
We know that "smears" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case smears = anoints.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does ANOINTS mean?
ANOINTS verb- To smear or rub over with oil or an unctuous substance; also, to spread over, as oil.
- To apply oil to or to pour oil upon, etc., as a sacred rite, especially for consecration.
- To choose or nominate somebody for a leading or otherwise important position, especially formally or officially, or as an intended successor.
- To mark somebody as an official ruler, especially a king or queen, as a part of a religious ceremony.