JSFiddle - React, Tailwind, and code Playground

HTML

<div class="progress circular"></div>

CSS

.progress.circular {
  width: 60px;
  height: 60px;
  background-color: #c4000000;
  mask-image: linear-gradient(transparent 50%, white 50%),
    linear-gradient(to right, transparent 50%, white 50%);
  -webkit-mask-image: linear-gradient(transparent 50%, white 50%),
    linear-gradient(to right, transparent 50%, white 50%);
  position: relative;
  color: #3b49df;
  animation: rotate 6s infinite;
}
.progress.circular:before {
  content: "";
  position: absolute;
  inset:0;
  border: solid 0.25em transparent;
  border-top-color: currentColor;
  border-radius: 100px;
  background-color: transparent;
  animation: rotate-shrink 0.75s infinite linear alternate;
}

@keyframes rotate {
  0% {
    transform: rotate(0deg);
  }
  12.5% {
    transform: rotate(180deg);
    animation-timing-function: linear;
  }
  25% {
    transform: rotate(630deg);
  }
  37.5% {
    transform: rotate(810deg);
    animation-timing-function: linear;
  }
  50% {
    transform: rotate(1260deg);
  }
  62.5% {
    transform: rotate(1440deg);
    animation-timing-function: linear;
  }
  75% {
    transform: rotate(1890deg);
  }
  87.5% {
    transform: rotate(2070deg);
    animation-timing-function: linear;
  }
  100% {
    transform: rotate(2520deg);
  }
}

@keyframes rotate-shrink {
  0% {
    transform: rotate(-30deg);
  }
  29.4% {
    border-left-color: transparent;
  }
  29.41% {
    border-left-color: currentColor;
  }
  64.7% {
    border-bottom-color: transparent;
  }
  64.71% {
    border-bottom-color: currentColor;
  }
  100% {
    border-left-color: currentColor;
    border-bottom-color: currentColor;
    transform: rotate(225deg);
  }
}