Made at Kievnauchfilm, 1983. A trully great studio which no longer exists.
nimator.ru/db/?p=show_film&fid=3524
How I miss films like this!
I highly recommend buying the DVD shown at the bottom of the above link; it is full of such great films (though without subtitles, unfortunately). The DVD is called "Старинная баллада", though I am not sure if any stores which sell it ship internationally.
If anyone needs the subtitles for this one separately, please send me a message.