Belgium will not embargo Israeli diamonds as the result of tensions in the Middle East, officials said recently. The idea was briefly floated in the international media, but Belgian officials now say they had no intention of ever doing so.

Ilan Samuel, a member of the board of directors of the Israeli Diamond Exchange, noted on a recent trip to Belgium that the country would lose a significant trading partner if a ban went into effect.

He added that hurting Israel’s economy also would affect the Palestinian Authority, many of whose workers are employed in Israel and which maintains joint industries with Israel.