The MOD has announced that at least 10 Tu-160 White Swan strategic bombers will be modernized by 2020. There are currently 16 of these bombers in service with the Russian strategic bomber fleet, with plans to increase that number to 30. The Tu-160M, as the modernized version will be called, will be able to carry new weapons, and will come equipped with enhanced avionics and electronics, all of which will double the combat effectiveness of the Tu-160. This modernization is part of a bigger plan to modernize 70% of Russia’s armed forces, with particular attention being centered on strategic forces.
More information about the Tu-160 here.