Yeah but the TU-95 is such an antiquated design, would it really be a threat? I mean, our carriers know the location of every submarine at sea in their area at any given time. Between that, and land based fighters, I don't think any TU-95s China might acquire would get anywhere near detection range of one of our Subs if we didn't want it to. Especailly given how quiet our subs are. The Sturgeons and Permits are long gone, and I do not believe a TU-95 could really detect an Ohio, Improved-LA, or Seawolf sub submurged, especailly since we would know of any TU-95s approaching their position before they get there, and would likely be able to warn the sub ahead of time.
I'd judge it to be P3 like ELINT wise and otherwise, clearly inferior compared to other craft we can field. The good news is, the problem of our own ASW gap was recognized and as far as I can tell will be closed in about 5 or so years.
One thing I forgot ... of course the Tu-95 is much faster than any P3 cruising .... but probably not nearly as manoeverable.