WASHINGTON — Iran today cut oil exports to six European countries, the Netherlands, Spain, Italy, France, Greece and Portugal.

And in another defiant move, Iran began loading domestically made nuclear fuel rods into its Tehran research reactor.

Those actions are being done as the United States and Europe are weighing unprecedented punishment against Iran that could cripple the country’s financial lifeline but result in higher oil prices for the U.S. and its allies.

The Obama administration wants Iran evicted from SWIFT, an independent financial clearinghouse that is crucial to the country’s overseas oil sales. That would leapfrog the current slow-pressure campaign of sanctions aimed at persuading Iran to drop what the U.S. and its allies contend is a drive toward developing and building nuclear weapons.

It also perhaps would buy time for the U.S. to persuade Israel not to launch a pre-emptive military strike on Iran.

But it’s an extreme option in the banking world that would come with its own costs — oil prices could soar, even as many of the world’s economies are still frail.