In the 66kg, Mehdi Taqavi beat Haislan Veranes Garcia of Canada in the last 16, but lost to the 2007 world champion Ramazan Sahin of Turkey in the quarterfinals.
Sahin went on to claim the gold medal, defeating Andriy Stadnik of Ukraine. Otar Tushishvili of Georgia and Sushil Kumar of India both won bronze medals.
Iran's Meisam Jokar was also knocked out of the men's 74kg after losing to Kiril Terziev of Bulgaria in the last 16 round.
Defending champion Buvaysa Saytiev of Russia defeated Soslan Tigiev of Ukraine to win his third Olympic gold medal in 12 years. Murad Gaidarov of Belarus and Kiril Terziev of Bulgaria both won bronze medals.
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