Madrid were last week found guilty of improper conduct after Alonso and Ramos seemed to deliberately incur second bookings for time-wasting late on in the 4-0 win over Ajax in Amsterdam a fortnight ago.
Those dismissals would therefore wipe out previous cautions ahead of the Champions League knockout stage, with the players only missing this week's clash with Auxerre, which is a dead rubber for already-qualified Madrid.
The nine-times European champions appealed against the initial ruling, which saw coach Jose Mourinho and players Alonso, Ramos, Iker Casillas and Jerzy Dudek receive varying penalties, and UEFA have announced reductions for some of the initial sanctions.
A UEFA announcement read: "Real Madrid are now fined 100,000 euros instead of 120,000.
"Coach Jose Mourinho is now fined 30,000 euros instead of 40,000 euros.
"Jose Mourinho is now suspended for one match - Wednesday's Group G fixture between Madrid and Auxerre - instead of the initial suspension of one game with a second game deferred for a probationary period of three years.
"The fines handed down by the UEFA control and disciplinary body to the Madrid players Xabi Alonso and Sergio Ramos (20,000 euros each), Iker Casillas (10,000 euros) and Jerzy Dudek (5,000 euros) remain the same.
"The one-match suspensions handed down to Alonso and Ramos also stand."