This problem actually requires a nontrivial solution. Suppose you have U = normalize(L2 - L1) and two unit vectors V and W such that U, V, W are pairwise orthogonal.
Then f(a) = L1 + R * (V * cos(a) + W * sin(a)) for angles a is the equation for the circle you want.
How can you find W given U and V? W can just be their cross product.
How can you find V given U? This is where it's not straightforward. There are a whole circle of such V that could be chosen, so we can't just solve for "the" solution.
Here's a procedure for finding such a V. Let U = (Ux, Uy, Yz).
If Ux != 0 or Uy != 0, then V = normalize(cross(U, (0,0,1)))
Else if Ux != 0 or Uz != 0, then V = normalize(cross(U, (0,1,0)))
Else U = 0, error
Note: You can negate W if you want your point to cycle in the opposite direction.