Add the sugar and yeast to the warm water, mix and keep aside for 3 minutes.
In a bowl, add the flour, salt, and vegetable oil. Mix well. Add the water and yeast mixture and start kneading.
The dough will be sticky the first 2 minutes but with continues kneading it will firm a little. Knead for at least 7 minutes. Cover and leave in warm place to double in size, will take 1 hour to one hour and a half.
To make medium size simit, form 4 equal size balls from the dough.
Dust the working surface with flour, using your hands form a long rope, fold the rope in half, twist both halves of the rope, join two ends together to form a circle, press the ends firmly to seal.
Dip both sides in the molasses mixture first then in the sesame seeds, place on a baking sheet. Cover and let it rise again for 30 minutes.
Preheat oven to 200C/400F. Bake the simit for 15 minutes on the middle rack.
Serve warm with jam, honey, or feta cheese.