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It's not E. lundbecki, which is a larger, Scaeva-like species. Having compared the photograph with females of E. curtus and E. punctifer I would exclude the latter. This leaves us with E. curtus or E. luniger . I would not be surprised if some of the recently described alpine/arctic species (like E. tirolensis) do occur on Iceland.

Summa summarum: Eupeodes is difficult even with the specimen at hand and a good reference collection. :|