The Dragon Ring

Desideria e lAnello del Drago also known as Desideria and The Dragon Ring is an Italian fantasy miniseries directed by Lamberto Bava and starring Anna Falchi. The story is similar in style and direction as Lamberto Bavas more successful Fantaghir series.

As the eldest birth daughter of the Dragon King, Desideria is due to inherit the Dragon Ring, the highest symbol of power in the kingdom, but she can only do so once she has chosen a husband. Unfortunately, the prince that finally catches her attention is Prince Victor, a rebel prince who has fought against her father and is to be sentenced to death for his treachery.Desideria helps Victor escape from the castle prisons, but her father catches her in the act and she is punished. The Dragon King decides to let all the princes in his conquered kingdoms fight in a tournament for her hand in marriage, but when Desideria sees that all the princes are selfish, cruel men, she runs away. When the Dragon King discovers that she has fled, he declares that Desideria has forfeited her right to the throne and Selvaggia will become the new prize. But unknown to him, the jealous Selvaggia wants to beat her elder sister completely. ........

Source: Wikipedia