That's tough. I can only think of so many situations that would successfully work in a fantasy setting. One would be mystery and the other would be a trial. These wouldn't require action scenes, but they may elude to them (ie a killing).
^^ I write a lot of stories, but as an example, one of them involves a damned soul who escapes from Hell on the eve of a demonic invasion of Earth, and how her rekindled romance with the man she was once married to gives her the courage to strike back against the demon that tormented her. It's got a certain degree of action (hell, one character kills a demon with a kitchen knife!), but it's generally over with quickly, and most of the story is just people talking to each other.
Does Goethe's Faust count as fantasy? It has one duel in the whole book, that's about all with action.Even Twilight has action in it in a few places, however.
I can't think of many (any?) fantasy novels that don't have at least some action.