Abstract: We study the electronic structure of the Sr2YRuO6 and Sr2YRu0.75Ir0.25O6 compounds using x-ray (resonant) photoemission and absorption spectroscopies. The experimental results are interpreted with first-principles calculations, which give a good agreement with all the spectra. These results show that, although the spin-orbit coupling does not induce orbital anisotropies in these systems, it is responsible for the reduction of magnetic moments within the the Ir5+ O-6 octahedra, weakening the magnetic ordering in the substituted system. Finally, our findings support the idea that the canting of Ru5+ magnetic moments actually plays an important role in the stabilization of the intriguing magnetic ordering in the Sr2YRuO6 compound.