Warm the water slightly, then dissolve the sugar and yeast in it. Let it stand for 10 minutes until foamy.
In a large bowl, sift the flour, then add the salt and the yeast mixture. Mix until you have a sticky, soft dough.
Cover the dough with a clean kitchen towel and let it rise in a warm place for about 1 hour, or until doubled in size.
Heat the oil in a deep pot to about 340°F (170°C). If you don't have a thermometer, drop a small piece of dough into the oil â if it slowly rises to the top and turns golden brown, the oil is ready.
Using a tablespoon, shape small balls of dough and carefully drop them into the hot oil. Fry only a few at a time to prevent the oil temperature from dropping.
Fry the lokma for 3-4 minutes, until golden brown and crispy on all sides. Turn them occasionally.
Remove the lokma with a slotted spoon and place them on a paper towel-lined plate to drain excess oil.
While still warm, toss them in honey or sugar syrup to coat them evenly.
Sprinkle with cinnamon or toasted sesame seeds, and serve immediately.
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