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This is certainly neither luniger nor lundbecki. But tirolensis could be correct. All its characters as far as they are visible from the image do fit: frons virtually undusted, broad margin of wing beyond outer cross veins, and the shape of the abdominal spots. But Eupeodes is one of the most difficult genera of Syrphidae and the fauna of Iceland is not well explored. So it could be something else as well.

Best regards,
Dieter