The contribution of the leading diamagnetic coupling term to the retarded d
ispersion interaction between a pair of neutral atoms or randomly oriented
molecules in the ground electronic state, is investigated using the multipo
lar formalism of non-relativistic quantum electrodynamics. Within this fram
ework the interaction energy is viewed as arising from the exchange of two
virtual photons and is calculated using conventional time-dependent perturb
ation theory. Explicit expressions are presented for energy shifts involvin
g the interaction of a diamagnetic species with (a) an electric-dipole pola
rizable body, (b) a magnetic-dipole susceptible body, (c) an electric-quadr
upole polarizable body and (d) another diamagnetic species. The resulting p
otentials obtained are applicable for all separation distances beyond the e
lectron overlap region. Also given are the limiting forms of the energy shi
ft at large and small inter-atomic/molecular separations.