Syria Democracy Transition Act of 2012 - States that is U.S. policy to: (1) condemn the systemic violations of human rights conducted by the Syrian authorities, and (2) assure the departure from power of President Assad and his family and facilitate a peaceful transition to a democratic and inclusive government in Syria. Directs the President to: (1) prohibit the opening or maintaining in the United States of a correspondent or payable-through account by a foreign financial institution that has knowingly conducted any financial transaction with the Central Bank of Syria, and (2) freeze and prohibit all property and property interest transactions of such institution if the property and property interests are in the United States or come within the possession or control of a U.S. person. Exempts from such sanctions sales of food, medicine, or medical devices to Syria. Applies such provisions to certain financial transactions and financial transactions for petroleum or petroleum product purchases through the Bank. Directs the President to apply specified sanctions against a person knowingly providing specified refining, shipping, or financing services regarding the exportation of petroleum, oil, or liquefied natural gas for refining or processing outside of Syria if: (1) the government of Syria was involved in the development, extraction, production, transportation, or sale of such petroleum, oil, or liquefied natural gas in Syria; and (2) the fair market value of such petroleum, oil, or liquefied natural gas is $1 million or more, or during a 12-month period the aggregate fair market value of such petroleum, oil, or liquefied natural gas is $5 million or more. Exempts certain underwriters and insurance providers from such provisions. Prohibits a vessel from knowingly landing at any seaport in the United States to load or unload cargo or engage in the trade of goods or services if the vessel entered a port in Syria during the 180-day period preceding arrival of the vessel at the U.S. seaport. Provides for enhanced vessel inspections. Directs the President to use U.S. influence to urge the U.N. Security Council to: (1) freeze the assets of, and impose a travel ban on, all officials within President Assad's regime and all family members of Mr. Assad; (2) ban passenger flights to and from Syria; and (3) restrict the shipment and insurance of goods to or from Syria. Directs the President to report to Congress on Syrian opposition groups and Syrian government weapons stockpiles. Terminates sanctions upon a certification by the President to Congress that President Assad has been removed from power, a democratic transitional government is in place, and Syria has ended support for terrorist groups. Authorizes the President, upon such certification, to establish a Syrian Stabilization Fund. Authorizes the President to designate a private, nonprofit Syrian-American Enterprise Fund. Directs the President to expand the role of the Department of State's Special Coordinator for Middle East Transitions to assist in coordinating transition efforts in Syria. Directs the U.S. Trade Representative (USTR), after such certification, to review Syria's eligibility for designation as a beneficiary developing country. Expresses the sense of Congress that the USTR, after such certification, should initiate negotiations for a U.S.-Syria trade and investment agreement.

Date: 2012-03-02
Topic: International Affairs (Specific Country)
Subject: International affairs