Virtual water trade increased with globalisation. However, this trade does not always flow in such direction, that water abundant regions supply water scarce regions with water intense products. Often the opposite happens and depletive water trade intensifies causing water scarcity. This work focuses on the Water-Energy-Soil-Trade-Nexus with each element seen as a materialisation of discourses. Two cases illustrate specific parts of the Nexus, firstly, the close relationship of market liberalisation, foreign direct investment and virtual water trade is represented with Viet Nam’s Doi Moi policy and rapid economic growth. Secondly, the water-energy dimension linkages are drawn by following the case of hydraulic fracturing from the U.S. to Australia’s gas drills embedded in a global perspective. This work helps to understand especially cases, where virtual water trade dries out water resources in already vulnerable areas.