[themadturk]

The point is that Tu-95s are still an integral part of Moscow's aircraft leg of their nuclear triad. They are fully capable of carrying nuclear-tipped standoff weapons and attacking Europe. They fulfill the same role as the B-52 (also a 1940s-1950s design) does for the USAF. Their apparent cruising speed is roughly 100kph less than the B-52 and they are comparable in range.

Part of the reason it's so critical to Moscow is the uncertainty over the viability of their missile-based systems (both the land-based and sea-based legs of the triad). Maintenance has been so poor on these systems that no one is sure how reliable they are.