In a large mixing bowl, pour the lukewarm water, add the sugar and yeast. Stir to combine and let it sit for 5-10 minutes, until foamy. This indicates that the yeast is active.
Add the flour, salt, and oil, then start kneading the dough. Knead for at least 10 minutes, until you get a smooth and elastic dough. If it's too sticky, you can add a little more flour.
Cover the dough with a clean kitchen towel and let it rise in a warm place for 1 hour, or until doubled in size.
Once the dough has risen, divide it into 8 equal portions. Roll each piece into long, thin strands, then twist two strands together and form them into a round ring. Pinch the ends to seal.
In one bowl, mix together the pekmez and water. In another bowl, spread out the sesame seeds.
Dip the simit rings first into the pekmez mixture, then coat them generously with sesame seeds.
Place the coated dough rings on a baking sheet lined with parchment paper. Let them rest for another 15 minutes to rise slightly.
Preheat the oven to 400°F (200°C) and bake the simit for 20-25 minutes, or until golden brown and crispy.
Let them cool on a wire rack, then serve fresh, either plain or with cheese and olives.
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