The Collaborative International Dictionary of English v.0.48:

Phanariot \Pha*nar"i*ot\ (f[.a]*n[a^]r"[i^]*[o^]t), n. Also
Phanariote \Pha*nar"i*ote\ (f[.a]*n[a^]r"[i^]*[=o]t). [NGr.
   Fanariw`ths, fr. Phanar. See Phanar.]
   One of the Greeks of Constantinople who after the Turkish
   conquest became powerful in clerical and other offices under
   Turkish patronage.
   [Webster 1913 Suppl.]