As per my knowledge cutoff in September 2021, there are no imminent threats or high alert concerns regarding a volcanic eruption in Iceland. However, Iceland is known to have active volcanoes, and eruptions do occur from time to time.

If there is a recent update or development indicating a high alert, I am not aware of it, as my information may be outdated. It's always best to refer to the latest official sources, such as the Icelandic Meteorological Office (IMO), for the most current and accurate information on volcanic activity in the country.