There are "rubber" ring-shaped tools available in various sizes for removing decorative rings. I always used 2 small pieces of double-sided sticky tape, each fixed to opposite sides of the ring. Fingers on the tape, just press sideways & unscrew. Try in a different place if it doesn't work first time. All you need is that extra bit of grip.
Once or twice I did have to drill a 1mm. hole at opposite sides, away from lettering, and use a standard lens key. The holes were later filled with black shoemakers' wax. Only ever did that with the customer's approval of course and only after other methods had failed, usually because of corrosion or damage.