Prepare the dough: In a large bowl, add flour, sugar, salt, oil and instant yeast (keep yeast away from sugar and salt) and mix with a spatula or your hand. Gradually add lukewarm water and stir for 3 minutes until the dough comes together.
Knead the dough: Transfer the dough to your work surface and knead by hand for 2 minutes until the dough becomes smooth. Shape the dough into a ball and place it in a greased bowl. Cover with cling film and allow the dough to rise at room temperature for 1 hour or until tripled in size.
Shape the Simit: When the dough is ready, punch it down to release any bubbles of carbon dioxide. Divide the dough into 6 equal pieces. (4 ounces, 120 grams) Shape each piece into a ball.
Take a ball and roll it into a rope about 22 inches (55 centimeter). Take one end of the rope and place it on the other end. Using both hands, twist the two ends in opposite directions to form a "rope shape". Bring the ends together to form a circle and tighten them tightly. ( see the pictures above for a visual). Repeat with the remaining pieces of dough.
Prepare the molasses mixture: Mix the molasses and water in a shallow bowl. Take another one and put it in the toasted sesame seeds.
Topping: Dip each ring in the molasses mixture and then roll in the sesame seeds until well coated. Place on a baking sheet lined with parchment paper.
Cover and allow to rise for about 10 minutes. (This step is optional, so you can skip it if you want less crumbs)
Preheat the oven to 390°F (200°C).
Bake: Place the simit in the oven and bake for 10-15 minutes or until golden brown.