Vim crashes when used with Conda Python3 on Windows 7

I'm trying to have Python27 and Python34 support for the compiled 64bit version of VIM (used MSVS 2013 to compile it) on my Windows 7 machine (64bit too). I'm using Conda 64bit Python distribution where Python27 is the main installation (I also have it in my Windows PATH) and Python34 was installed as a separate environment. Python27.dll and Python34.dll files were placed into the VIM's directory.

:version

shows that my VIM installation has support for both Python distributions, but when I try to run:

py3 print('test')

GVIM just crashes and VIM provides the following error message:

Fatal Python error: Py_Initialize: unable to load the file system codec
ImportError: No module named 'encodings'

py print('test') works fine.

I reproduced the same behaviour with Haroogan's VIM installation.

Is there any way to tell VIM to use both Python distributions?